By 2030, as many as 40% of new vehicles sold in India – approximately 24 million – could be battery powered, according to a recent study by Germany-based, TFE Consulting. This is encouraging given that in 2017, less than 0.01% of cars sold in India were electric and there were only 220-250 operational charging stations, compared to 56,000 petrol stations.
The TFE report expects electric vehicles (EVs) to match the initial cost of conventional internal combustion engine (ICE) vehicles by the early 2020s. Factors driving down costs include rapidly decreasing battery costs, technological advances in charging infrastructure, innovative business models, the influx of smart digital technologies, as well as green policies and subsidies.
Currently, while electric cars offer up to an 80% reduction in operating costs compared to diesel or petrol cars, their capital costs are 40-100% higher. It also takes around 150 km, as a daily driven distance, for an electric car to outcompete a petrol car. Read More
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